Corn (ZC) is edging higher to start the week, but likely to begin consolidating as early as today as ZC nears upchannel resistance (on the 4hr chart). Significantly, although ZC could very well break above the May high by early February, after 10 straight green daily candles, ZC appears more likely to first take a breather…
Ethereum (ETHUSD) is showing early signs of halting its crash from the November record high, but remains vulnerable to a further slide in February. Significantly, although ETHUSD has bounced off a 2 month downchannel support (on the daily chart) and reclaimed a prior uptrend support (on the same chart connecting the February and July lows), odds are elevated for ETHUSD to retest in February the psychologically key 2k whole figure level…
Raw Sugar (SB) edged lower yesterday, continuing a roughly week long slide erasing last week’s gains. Significantly, with SB’s failure these past 2 weeks to hold onto prior uptrend support (on the weekly chart), SB appears poised to retest the January low by sometime in February…
The GBPAUD has surged in today’s Asia morning to a fresh January high, but now appears ready for a breather. Significantly, the GBPAUD is completing a 3 week ascending triangle (on the daily chart), and is poised to launch off prior triangle resistance (on the weekly chart)…
Gold (GC) is consolidating in today’s Asia morning after yesterday’s break above triangle resistance (on the 4hr and daily chart). Significantly, today’s highly anticipated FOMC and US Fed rate announcement at 2pm EST could be the catalyst for GC to test the weekly chart triangle resistance…
The VIX (VX) is firming after yesterday’s late US session sharp reversal, but appears vulnerable to more healthy profittaking today. Significantly, regardless of the high probability of a deeper consolidation in the next day or so after 5 straight green daily candles, the VX is already at the 38.2% Fib retrace of the week plus surge…
Wheat (ZW) is gapping up to start the week, and is in the advanced stages of completing a consolidation just shy of the psychologically key 800 whole figure level. Significantly, ZW appears to be gearing up to spring off descending wedge resistance (on the daily and weekly chart), and trying to extend the upchannel (on the weekly chart)…
A new format for Crypto Weekly Outlook is taking form, where in light of the rapidly emerging and evolving opportunities in other top 50 coins (other than Bitcoin, Ethereum and Ripple), Crypto Weekly Outlook will 3 Sundays out of each month, provide technical analysis on 10 coins from the top 50 (in market cap) which appear the most interesting for the coming week. Only coins that have above average fundamentals over the long run will be selected…
Arabica Coffee (KC) consolidated the upchannel (on the 4hr chart) yesterday closing where KC may form a 2nd data point to a triangle/downchannel resistance (on the daily chart). Significantly, KC appears poised to break above last week’s high, with high odds for a retest of the 2021 peak sometime in January…
The AUDUSD is rallying in today’s Asia morning on the 730pm EST release of Australian employment data, adding to yesterday’s bounce off uptrend support (on the 4hr chart). Significantly, although the AUDUSD remains within a downtrend (on the weekly chart), a daily close above triangle resistance (on the daily chart) would dramatically increase odds for a test of the weekly chart downtrend resistance in the week after…
